Louisiana State Employees Retirement System Buys New Shares in Vornado Realty Trust $VNO

Louisiana State Employees Retirement System bought a new position in shares of Vornado Realty Trust (NYSE:VNO) during the first quarter, HoldingsChannel reports. The firm bought 46,400 shares of the real estate investment trust’s stock, valued at approximately $1,206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Vornado Realty Trust in the 4th quarter valued at approximately $579,709,000. Franklin Resources Inc. grew its holdings in shares of Vornado Realty Trust by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 12,504,170 shares of the real estate investment trust’s stock worth $416,139,000 after purchasing an additional 195,111 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Vornado Realty Trust by 21.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock worth $301,300,000 after purchasing an additional 1,598,643 shares in the last quarter. State Street Corp increased its position in shares of Vornado Realty Trust by 0.5% during the second quarter. State Street Corp now owns 8,833,034 shares of the real estate investment trust’s stock valued at $337,775,000 after purchasing an additional 39,767 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Vornado Realty Trust by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 6,044,708 shares of the real estate investment trust’s stock valued at $201,168,000 after purchasing an additional 243,905 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Trading Down 0.1%

VNO stock opened at $40.52 on Friday. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $43.37. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average is $34.44 and its 200-day moving average is $31.48. The firm has a market cap of $7.62 billion, a P/E ratio of 11.13, a P/E/G ratio of 2.04 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.Vornado Realty Trust’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. Equities analysts anticipate that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its board has approved a share buyback plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

VNO has been the subject of several research reports. Weiss Ratings raised Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Citigroup boosted their price target on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Piper Sandler reduced their price objective on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Finally, Truist Financial raised their price objective on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.33.

Insider Buying and Selling at Vornado Realty Trust

In other news, Director Michael D. Fascitelli sold 133,350 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total value of $4,883,277.00. Following the sale, the director owned 475,161 shares in the company, valued at approximately $17,400,395.82. The trade was a 21.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Russell B. Wight, Jr. bought 4,000 shares of the stock in a transaction dated Monday, June 8th. The stock was purchased at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the acquisition, the director owned 13,000 shares in the company, valued at $220,220. The trade was a 44.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 9.00% of the company’s stock.

Vornado Realty Trust Profile

Vornado Realty Trust is a self?administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long?term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street?level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.